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September 2017 Winter Springs Rent Report

Welcome to the September 2017 Winter Springs Rent Report. Winter Springs rents declined over the past month. In this report, we'll evaluate trends in the Winter Springs rental market, including comparisons to cities throughout the state and nation.

Winter Springs rents declined over the past month

Winter Springs rents have declined 1.4% over the past month, but have increased slightly by 1.2% in comparison to the same time last year. Currently, median rents in Winter Springs stand at $1,050 for a one-bedroom apartment and $1,260 for a two-bedroom. Winter Springs' year-over-year rent growth lags the state average of 3.6%, as well as the national average of 3.0%.

Rents rising across cities in Florida

Throughout the past year, rent increases have been occurring not just in the city of Winter Springs, but across the entire state. Of the largest 10 cities that we have data for in Florida, 9 of them have seen prices rise. The state as a whole logged rent growth of 3.6% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

Looking throughout the state, Pembroke Pines is the most expensive of all Florida's major cities, with a median two-bedroom rent of $2,390; of the 10 largest cities in the state that we have data for, Miami, where a two-bedroom goes for $1,350, is the only major city to see rents fall year-over-year (-0.4%).

Tampa, St. Petersburg, and Jacksonville have all experienced year-over-year growth above the state average (5.6%, 4.6%, and 4.5%, respectively).

Winter Springs rents more affordable than many large cities nationwide

Rent growth in Winter Springs has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Winter Springs is still more affordable than most large cities across the country.

Winter Springs' median two-bedroom rent of $1,260 is above the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 1.2% increase in Winter Springs.

While rents in Winter Springs remained moderately stable this year, similar cities saw increases, including Los Angeles (+5.0%), Charlotte (+3.9%), and Atlanta (+2.6%); note that median 2BR rents in these cities go for $1,740, $1,110, and $1,170 respectively.

Renters will find more reasonable prices in Winter Springs than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is nearly two-and-a-half times the price in Winter Springs.

For more information check out our
national report.
You can also access our full data for cities and counties across the U.S. at
this link.

City

Median 1BR price

Median 2BR price

M/M price change

Y/Y price change

Orlando

$1,010

$1,210

0.7%

6.4%

Kissimmee

$990

$1,190

0.5%

5.6%

Sanford

$940

$1,120

0.1%

8.9%

Altamonte Springs

$1,000

$1,200

0.1%

4.5%

Oviedo

$1,270

$1,520

0.7%

2.9%

Winter Springs

$1,050

$1,260

-1.4%

1.2%

Winter Park

$990

$1,190

2.2%

7.1%

Maitland

$1,040

$1,250

0.2%

2.4%

Lake Mary

$1,310

$1,570

-1.3%

10.5%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.